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Will solar and wind prices fall further?

Power prices in certain patches across the country looked up this year after a long and steep fall. The rise is attributed to closing down of a number of power plants and the rough patch the power industry was made to negotiate. However, TERI has said that the research shows a downward revision of price rather than an upward one.

Solar prices have been continuing to fall due to technological advances and due to sheer competition. At the same time, per unit cost of wind has also been dropping down because wind turbines of the same capacity are now capable of producing more. This combination of reducing prices amongst renewables will continue to hold the power prices down.